Greater Charlottesville Area 2018 Second Quarter Highlights
• Home sales climbed 7.5% (1,290) compared to Q2 2017 (1,200), led by an increase (23.6%) in attached homes.
• Greater Charlottesville median sales price rose slightly to $314,500 (1.6%) compared to this time last year ($309,500).
• The median days on the market in the 2nd Quarter was 45, 10-days lower than in Q2 2017.
• New listings increased 7.5% (1,691) compared to Q2 2017 (1,573), as pending sales also improved by 12.8% (1,238) compared to this time last year (1,098).
• Inventory of homes for sale declined 8.6%, resulting in 4.0 months supply of inventory compared to 4.8 months supply in Q2 2017.
Greater Charlottesville Area 2018 First Quarter Highlights
Closed Sales increased 9.1% for Single-Family Detached homes and 28.3% for Single-Family Attached homes.
Pending Sales increased 1.0% for Single-Family Detached homes and 35.1% for Single-Family Attached homes.
Inventory decreased 13.3% for Single-Family Detached homes and 16.3% for Single-Family Attached homes.
The Median Sales Price increased 19.0% to $345,000 for Single- Family Detached homes and 3.2% to $245,000 for Single-Family Attached homes.
Days on Market decreased 8.5% for Single-Family Detached homes and 26.9% for Single-Family Attached homes.
Homeownership was less affordable, as the Housing Affordability Index was down 12.5% over last year, at 112.
Greater Charlottesville Area 2017 Year-End Highlights
- Home sales increased 7.5% (863) compared to Quarter 4 of 2016 (803), while year-end indicated a 4.0% gain.
- Greater Charlottesville median sales price rose to $300,000 (12%) compared to Quarter 4 of 2016 ($267,842), as year-end marked a 7.4% improvement
- The median days on the market for Quarter 4 of 2017 remained steady at 71- days, unchanged from Q4 2016, while year-end showed a 8.5% decline (six-days fewer)
- New listings grew 13.4% (822) compared to Q4 2016 (725), as year-end marked a 2.8% increase.
- Pending sales improved 17.6% (761) compared to Q4 2016 (647), while year-end showed a 7.5% surge.
- Inventory of homes for sale declined 15.9% (939) in Q4 2017, as year-end indicated a 15.7% decrease.
2016 Third Quarter Greater Charlottesville Real Estate Market Report
3rd Quarter Highlights:
- Homes sales rose 20.9% over the same time last year, the highest since 2007, led by an increase of 32.9% in attached home sales.
- Greater Charlottesville median sales price remains stable at $273,864 (-0.2%).
- The median Days on Market in the 3rd Quarter was 36 days, eight-days lower than in Q3 2015.
- The 1,719 active listings at quarter’s end represent 6.2 months of supply, down from 8.9 months at the end of Q3 2015.
- This quarter reflects steady growth in land sales, driven by the 5-acre or less category.
AUGUST 2016: Closed Sales in the Greater Charlottesville Area Up 52.2% Over Last Year!
JULY 2016: Closed Sales Up 21.6% Up Over Last Year, Lower Days on Market and Listing Inventory
Charlottesville Area 2nd Quarter MARKET REPORT Highlights:
The 1,124 homes sold in the 2nd Quarter in Greater Charlottesville marked a 17.2% increase from last year, the highest quarterly total since 2006.
Prices gained 4.7% from last year as the median sales price reached $295,400.
The median DOM in the 2nd Quarter was only 25 days, eight days lower than the Q2 15 level.
Despite a 6.6% increase in new listing activity during the quarter, inventory remains 10.8% lower than last year due to the gains seen in purchase activity.
The 1,836 active listings at quarter’s end represent 7.3 months of supply, down from 9.4 months at mid-year 2015.
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